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World Bank credit

    JOHANNESBURG

    The World Bank said it had approved a US $30 million credit for Malawi to improve the quality of its road infrastructure.

    In a recent statement, the World Bank said that the five-year project was designed to assist the Malawi government reform its road transport sector. "It will help economic growth and diversify the Malawian economy by reducing transport costs and improving access," it said.

    With a population of just over 10 million people, Malawi's geographical location and limited competition for domestic and international freight made it susceptible to high transport costs, it said. Average domestic transport costs by road was two to three times higher than in Zimbabwe or South Africa.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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